Follett, TX is a small town of around 200 people located in the Texas panhandle. Follett is known for its low cost of living, with two bedroom apartments renting for $850 compared to the national average of $1,430. The Grocery Cost Index in Follett is also significantly lower than the US average, standing at 91 versus 100. Despite its size, Follett offers a range of local amenities and businesses including S & W Food Stores, Home Hardware and Ace Hardware Store. Additionally there are several restaurants such as K-Bob's Steak House and China Garden Restaurant, and many parks for outdoor recreation.
Follett has an unemployment rate of 4.8%. The US average is 6.0%.
Follett has seen the job market decrease by -6.9% over the last year. Future job growth over the next ten years is predicted to be 20.2%, which is lower than the US average of 33.5%.
Tax Rates for Follett
- The Sales Tax Rate for Follett is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Follett is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Follett
- The average income of a Follett resident is $28,523 a year. The US average is $37,638 a year.
- The Median household income of a Follett resident is $71,875 a year. The US average is $69,021 a year.